Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1887-07-01

THE CANAL SToCK.-The following &C.
count of the sale in this city yesterday OF
the States interest in the Alexandria Ca
nal stock is published this morning in
the Washington correspondence of the Bal
timore SIN 1.-The State of Virginia offered
for sale at noon yesterday at Alexandria,
in front of the Market Square, 1920 shares
of the stock of the Alexandria Canal Com
pauy This stock is q part of 1882 shares
of the Alexandria canal stock, in exchange
for which the city of Alexandria put S435-
200 into the Alexandria canal. The sum
was not intended as O pecuniary investment,
but designed to create public waterway,
and it was never expected to receive dlvl-
dens, for whenever the tolls rose above ex-
penditures and wear and tear it was intend
ed 10 reduce the tolls so as to attract trade.
No thought of return Ivy dividends entered
into the matter. 1t was part OF the plan to
connect the Ohio and the Potomac, the
canal being at one end and the National
road at the other With the same view,
Congress gave 100000 to the Alexandria
canal. ard required the corporation of AL
exandria TO deposite 8 600 ofthe canal shares
in trust with the United States, as it re-
ouired the three cities Washington George
Gown and Alexandria to put into the
hands of the Secretary of the Treasury the
Fl 800 600 stock of the Chesapeake and Ohio
canal. All these measures were designed to
make the canals free waterways IS far az
was consistent with maintaining them III
nayigable condition. When Alexandria was
retroceded to Virginia the State had Gus
tom to paw for three-ffths of the stock Of all
internal improvement companies chartered
by the State. When Alexandria came into
the State with work of internal improve
ment already finished, Virginia took at once
three fifths of the burden that the Alexan-
dra corporation had imposed on the citizens,
took 2,720 ofthe shares and gave S272, 900 to
Alexandria. That amount Of the city debt
was at once paid off, and city taxes proper
,ionately reduced. The State held this
stock as long as the canal continued
means of transportation, but as 1t IS
now rendered useless by the cutting
oil of the aqueduct which gave it water,
the State ordered q sale OF the stock
and it was put up at auction to-day. First
Auditor Morton Mayre, Second Auditor
Frank G. RufIin and Treasurer NJ. G. Har'
man, of the sinking fund of Virginia,
reached Alexandria from Richmond before
the sale, and soon after u struck on the
market clock Auctioneer Wise began the
yendue. There were present Speaker Stu
art. of the House of Delegates, the corpora
ton attorney, the city finance commit
tee. Capt. Geo. Mushbach, Hon. f. Snow
den, Park Agnew, Col. Arthur Herbert
and many others. On the offering
of the first block of one hundred shares Park
Aqnew bid FIVE cents per share. but the BID
assembled to seventy cents, and the block
was knocked down to COL Arthur Herbert,
who bought number OF blocks succeeding
at from thirty to sixty cents per share. How
ever. the State had reserved, alter selling
the canal stock in blocks. an option to sell
the whole twenty. hundred SHARES 10
one block. 1t did sell it in this way, and all
the stock was purchased by syndicate rep
resented by Arthur Herbert at thirty cents
Der share. The city of Alexandra TOOK
twelve hundred and twenty shares OF TINS
stock, which will be deposited IN the treas,
ury in accordance with a Judgment obtained
by the United States. The government mas
in the time and salary of its officers spent
MANY thousands of dollars to recover stock
which turns out now worth only three hum
bred and sixty.six dollars"
PERsoNAL.-The st. Joseph Mo-, Gazette,
of sunday last. contains long account OF
tbe marriage. which took place in that city
on the odd ult., of Mr.. Otis Mooers and Miss
Roberta RI Medley, both formerly of Virginia.
hut now of St. Joseph. The gazette says
the marriage was one of the notable events
in society circles ofthe week, and publishes
long list of the handsome presents received
hv the bride and groom. Miss Medley was
formerly of this city, where she has many
friends and relatives.
" Col. Eyerhard Welter, veteran Ut the
90, frou, tho Soldiers, Home. will